Financial Times

Hettigoda Industries eyes bigger share of Indian market
Hettigoda Industries, which has gained a foothold in the huge Indian market by setting up an outlet in Chennai, is hoping to obtain a substantial market share in the Indian balm market in the near future,.

According to Dr. Victor Hettigoda, founder and owner of the popular Siddhalepa balm manufacturing company, it managed to penetrate the Indian market last year by opening an outlet in Chennai.

Currently, one crate of Ayurvedic medicines is exported to India every month but according to Hettigoda the demand is much more. “The Indian government has been co-operative so far and we are in negotiations currently to gain a firmer foothold in the Indian market,” he said. Hettigoda Industries, which started as a one-man business three decades ago, has expanded rapidly into a company exporting to 22 countries, from the United States to Japan. The group has a workforce of 4,000.

The Siddhalepa balm holds a 90 percent share in the local market while its medicines have a 35 percent market share. “The increased inflow of imported medicines, both Western and Asian, affected us slightly but we were able to survive due to our stringent adherence to quality,” Hettigoda said. The company is looking at entering markets in other countries such as Israel, Canada, Russia and China. It will be reviewing the health rules and regulations of each potential new market before deciding whether they will enter it.

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